General Governmental Functions

Revenues of the general governmental functions (excluding capital projects) totaled $11,440,148,000 for the
fiscal year ended June 30,1994. This represents an increase of 5.8% over revenues for the fiscal year 1993. Income
tax, the largest source of revenue, produced 31.4% of general governmental revenues compared to 30.6% last year.
The revenues from various sources and the changes from last year are shown in the following tabulation (amounts
expressed in thousands):

			Increase	(Decrease)
		Percent	Over 1993	Actual
Revenue Source	Amount	of Total	Amount	Percent
Income taxes	$ 3,590,562	31.4%	$286,884	8.7%
Sales and use taxes	1,814,948	15.9	96,796	5.6
Motor vehicle taxes and fees	1,225,531	10.7	106,115	9.5
Other taxes	1,023,465	8.9	(11,470)	(1.1)
Other licenses and fees	193,216	1.7	(4,039)	(2.0)
Charges for services	691,597	6.0	61,000	9.7
Interest and other investment income	55,472	.5	20,352	57.9
Federal revenue	2,629,632	23.0	106,089	4.2
Other	215,725	1.9	C35.387)	(14.1)
Total	$11,440,148	100.0%	$626,340	5.8%

Of the total income tax revenue for fiscal year 1994, $3,326,610,000 was produced by the individual income tax
and $263,952,000 by the corporate income tax, representing an increase of $227,807,000 and $59,077,000,
respectively, compared to the prior year. The increase in individual income taxes reflects gains in employment and
personal income due to the State's economic recovery. Corporate income tax revenues increased by 29%, reflecting
sharp gains in corporate profitability.

Revenues from the retail sales tax increased $96,796,000 or 5.6% over the previous year, a result of stronger
employment and income in the State.

Motor vehicle taxes and fees increased $106,115,000 or 9.5% over the previous year, primarily due to a sharp
increase in titling tax receipts attributable to strong auto sales in Maryland.

Charges for services increased by $61,000,000 or 9.7% over the previous year primarily because of increased
landing fees and passengers at Baltimore/Washington International Airport and a change in the procedures for
recording revenues related to rail transportation.

Interest on investments increased by $20,352,000 or 57.9% over the previous year, due to higher interest rates
and greater investable balances.

Other revenues decreased $35,387,000 or 14.1% primarily because of the classification of certain transfer
taxes from general government to agency funds.

14